Yaskawa Electric revised its full-year earnings forecast, raising its revenue forecast while lowering its operating profit forecast. It also revised its foreign-exchange assumptions and released its August interim results and second-quarter order trends.
After the market closed on 9 October, Yaskawa Electric revised its consolidated full-year earnings forecast. Revenue was revised upward from ¥580 billion to ¥600 billion, up 10.7% year on year, while operating profit was revised downward from ¥60 billion to ¥57.5 billion, up 21.5%, and net profit was changed from ¥47 billion to ¥47.5 billion, up 34.8%. Foreign-exchange assumptions for the second half were revised from ¥145 to ¥155 per US dollar, from ¥170 to ¥180 per euro, and from ¥20.50 to ¥22 per yuan. The revisions reflect the impact of the core-system migration.
For the August interim period, revenue was ¥285.598 billion, up 9.8% year on year, operating profit was ¥22.058 billion, down 5.5%, and net profit was ¥18.988 billion, up 4.1%. The robotics business recorded a substantial decline in profit, hit by lower sales resulting from the core-system migration and restructuring costs in Europe. Meanwhile, the motion control business posted substantial increases in revenue and profit, offsetting the impact of the migration, while sales channels for AC servos and inverters expanded. In the second quarter, covering June to August, revenue increased 9.0% year on year to ¥146.616 billion, operating profit rose 5.8% to ¥13.572 billion, and net profit increased 19.9% to ¥13.543 billion. Orders rose 38% year on year and 13% from the previous quarter, reaching a record-high level.